BDO Successfully Sells PhP5B LTNCDs
Makati—(PHStocks)—BDO Unibank Inc. (PSE: BDO) successfully concluded its offer of PhP5 billion worth of Long Term Negotiable Certificates of Time Deposit (LTNCDs) on Wednesday, 6 March 2013, after an offer period of only three days. BDO closed the offer period early due to oversubscription from retail and institutional investors.
The LTNCDs will mature five-and-a-half (5 1/2) years after issue date and will have a coupon of 3.8% p.a. Interest will be paid quarterly and will be tax-exempt for individual investors who hold the LTNCDs for at least five years. The settlement date is on 25 March 2013.
The LTNCDs will support the Bank’s medium-term growth objectives and help lengthen the maturity profile of its funding sources.
ING Bank N.V., Manila Branch (ING) and Standard Chartered Bank (SCB) acted as the Joint Lead Arrangers and Selling Agents for the LTNCDs, while BDO and BDO Private Bank were the other Selling Agents.
